The firm that operates the Copper Face Jacks nightclub in Dublin posted pretax profits of €2.52 million – or €48,645 on average per week.
Accounts show that Breanagh Catering Ltd recorded a 10 per cent drop in pretax profit from €2.8 million to €2.52 million as revenues dipped from €11.78 million to €11.7 million in the 12 months to the end of January 31st this year.
The accounts for Cathal and Paula Jackson’s company show it clocked up nightclub and bar sales of €10.45 million, which was down marginally on the €10.46 million under that heading in the prior year.
The Jackson Court Hotel on Dublin’s Harcourt Street houses the nightclub and Breanagh Catering recorded a further €1.24 million in accommodation sales, which was down slightly on the €1.3 million recorded for the 12 months to the end of January 2024.
READ MORE
Numbers employed by the business last year increased by nine to 153 as staff costs increased from €4.57 million to €5 million.
Pay to directors increased to €1.62 million, made up of remuneration of €622,061 and a €1 million contribution into the Jacksons’ pension pot.
The €1 million in directors’ pension contributions follows a cumulative €2.15 million made in such contributions in the previous two years.
The company last year generated €2.6 million in cash from its operations.
The profit takes account of non-cash depreciation costs of €454,046.
Operating lease charges totalled €175,592. The firm’s costs were made up of cost of sales of €1.26m and administrative expenses of €8.24 million.
The accounts – signed off on October 23rd – show that the business recorded a post-tax profit of €2.19 million after incurring a corporation tax charge of €330,816.
Addressing the risks facing the business, the directors, in a note with the accounts, said “there continues to be increased competitiveness in the hotel and licensed trade sector while the company’s sales are also exposed to changes in general economic conditions in Ireland”.
The note said that the company has considered the risks prevalent and is continuously working on managing its overheads to reduce costs and improve profitability.
At the end of January last, its accumulated funds totalled €17.59 million. The company’s cash pile increased from €8.48 million to €10.88 million.
Mr Jackson – who celebrated his 70th birthday this year – opened Copper Face Jacks in February 1996.
